At United Trust Bank, we’re making it easier for brokers to support more Buy-to-Let clients, including those refinancing recently acquired properties and first-time HMO and MUB landlords.
For example:
- Previously we required a minimum of 3 months’ ownership before refinancing, now we don’t.
- Previously we required a minimum of 12 months’ experience as a landlord for lending on HMOs and MUBs. Now we don’t need experience for HMOs with up to six bedrooms or MUBs with up to four units.
Supporting a First-Time HMO Landlord
A broker recently introduced a client who had just purchased a six bedroom property and planned to operate it as an HMO.
Under our previous criteria, the case would have fallen short of the ownership period and landlord experience requirements. Thanks to our new, enhanced criteria we could support this application.
***FOR PROFESSIONAL INTERMEDIARIES ONLY***